The cryptocurrency market staged an impressive rebound in April 2018, with nearly all major digital assets posting significant gains. This resurgence followed a bearish first quarter, fueled by renewed institutional interest, technical breakouts, and fading tax-related sell pressure. Below, we analyze the top 10 best-performing cryptocurrencies by market capitalization during this period.
Key Market Drivers
- Institutional Adoption: A Thomson Reuters survey revealed 20% of financial institutions explored crypto trading, with 70% planning to start within 3–6 months.
- Technical Recovery: Most cryptocurrencies breached their 200-day moving averages, signaling bullish momentum.
- Altcoin Rally: Smaller tokens led the market recovery, setting a positive tone for broader gains.
- Tax Deadline Relief: Post-April 17 U.S. tax filings reduced sell pressure, lifting prices.
The total crypto market cap surged 40% month-over-month to $410 billion, with 27 assets exceeding $1 billion in valuation (up from 19 in March).
Top 4 April Performers
1. EOS (EOS/USD) – Up 195%
- Overview: A blockchain platform for decentralized applications (dApps), often compared to Ethereum.
- Performance: Rose from $5.60 to $17.46, peaking at $23.00.
- Catalysts: Ongoing ICOs, leadership by Block.one’s CTO Dan Larmer, and perceived undervaluation vs. Ethereum.
- Market Cap: ~$14 billion (5th largest).
2. TRON (TRX/USD) – Up 175%
- Overview: Decentralized entertainment platform eliminating intermediaries like app stores.
- Performance: Jumped from $0.0319 to $0.0930, hitting $0.1003 late April.
- Catalysts: Listing on Zebpay, CEO Justin Sun’s ties to Alibaba’s ecosystem.
- Market Cap: ~$5.9 billion (9th largest).
3. Cardano (ADA/USD) – Up 127%
- Overview: Smart contract platform led by Ethereum co-founder Charles Hoskinson.
- Performance: Climbed from $0.148 to $0.338, peaking at $0.388.
- Catalysts: Listings on Huobi and Binance, speculation about Coinbase integration.
- Market Cap: ~$8.5 billion (6th largest).
4. Stellar Lumens (XLM/USD) – Up 106%
- Overview: Cross-border payment protocol, a Ripple competitor.
- Performance: Surged from $0.2049 to $0.4238.
- Catalysts: MobileCoin’s $30M ICO on Stellar network.
- Market Cap: ~$7.5 billion (8th largest).
Remaining Top 10 Performers
| Rank | Crypto | Symbol | April Gain | Key Catalyst |
|------|-------------|--------|------------|----------------------------|
| 5 | IOTA | MIOTA | 98% | IoT partnerships |
| 6 | NEO | NEO | 89% | dApp ecosystem expansion |
| 7 | Ethereum | ETH | 72% | Institutional staking interest |
| 8 | Bitcoin Cash| BCH | 68% | Merchant adoption |
| 9 | Litecoin | LTC | 61% | Payment integrations |
| 10 | Ripple | XRP | 53% | Bank pilot programs |
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FAQs
Q: Is this rally sustainable?
A: While technicals are bullish, crypto remains volatile. Monitor institutional inflows and regulatory news.
Q: Why did altcoins outperform Bitcoin?
A: Smaller caps rebound faster post-downturns. Projects with clear use cases (e.g., TRON, Cardano) attracted speculative capital.
Q: Should I invest based on April’s gains?
A: Past performance ≠ future results. Diversify and research fundamentals.
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